Hot dog! Nathan's Famous Inc. of Westbury said it has acquired the Arthur Treacher's Fish & Chips brand from TruFoods Systems Inc. for $1.25 million.
Nathan's said that its NF Treachers Corp. subsidiary agreed Feb. 28 to buy the intellectual property related to the Arthur Treacher's brand. Nathan's said it is buying the fish and chips brand from PAT Franchise Systems Inc., a subsidiary of TruFoods Systems of Lake Success.
In a Securities and Exchange Commission filing, Nathan's said it also agreed to license the Arthur Treacher's brand to TruFoods to allow TruFoods to act as the franchiser of Arthur Treacher's restaurants "within a limited geographic region."
Wayne Norbitz, Nathan's president and chief operating officer, said in a statement that the company intends to "explore the possibility of marketing Arthur Treacher's products outside" its restaurant system "through various channels of distribution."
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Source - Newsday
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